New York property taxes
Varies
Are Property Taxes Deductible in New York?
Short answer: Yes on your federal return if you itemize, within the $40,400 SALT cap. New York adds its own break: Refundable real property tax credit (IT-214) up to $75, or $375 if 65+, for owners or renters with FAGI of $18,000 or less.
Also: STAR credit check for school taxes: Basic for income up to $500,000; Enhanced for 65+ up to $110,750 (2026). Homestead: Legacy STAR exemption on school taxes for owners who had it before 2016: Basic covers the first $30,000 of value. New homebuyers get the STAR credit as a check; the STAR exemption is only kept by owners who had it since 2015.
Records to keep: Keep receipts, statements, and a note of what each cost was for. Compare itemizing to the 2026 standard deduction ($16,100 single / $32,200 joint) before you claim.
New York property taxes
Varies
Individuals / Personal Taxes
Yes on your federal return if you itemize, within the $40,400 SALT cap. New York adds its own break: Refundable real property tax credit (IT-214) up to $75, or $375 if 65+, for owners or renters with FAGI of $18,000 or less.
Business justification
Yes on your federal return if you itemize, within the $40,400 SALT cap. New York adds its own break: Refundable real property tax credit (IT-214) up to $75, or $375 if 65+, for owners or renters with FAGI of $18,000 or less. Also: STAR credit check for school taxes: Basic for income up to $500,000; Enhanced for 65+ up to $110,750 (2026). Homestead: Legacy STAR exemption on school taxes for owners who had it before 2016: Basic covers the first $30,000 of value. New homebuyers get the STAR credit as a check; the STAR exemption is only kept by owners who had it since 2015.
Category
- Personal Tax Deductions